Meridian (NASDAQ:MRBK) Posts Quarterly Earnings Results, Misses Expectations By $0.03 EPS

Meridian (NASDAQ:MRBK) posted its quarterly earnings results on Friday. The company reported $0.43 EPS for the quarter, missing the consensus estimate of $0.46 by ($0.03), FiscalAI reports. The business had revenue of $30.14 million during the quarter, compared to analyst estimates of $33.05 million. Meridian had a net margin of 11.89% and a return on equity of 12.29%.

Meridian Stock Down 1.7%

Shares of MRBK traded down $0.32 during mid-day trading on Friday, reaching $18.70. The company’s stock had a trading volume of 58,053 shares, compared to its average volume of 101,507. The company has a quick ratio of 0.95, a current ratio of 0.98 and a debt-to-equity ratio of 0.24. The company has a market cap of $223.07 million, a price-to-earnings ratio of 9.08 and a beta of 0.65. The business has a fifty day moving average of $19.10 and a 200 day moving average of $19.22. Meridian has a 1 year low of $13.92 and a 1 year high of $21.67.

Analysts Set New Price Targets

Several research firms have weighed in on MRBK. Weiss Ratings raised Meridian from a “buy (b-)” rating to a “buy (b)” rating in a report on Friday, August 14th. DA Davidson set a $23.00 target price on Meridian in a research report on Tuesday, August 4th. Three analysts have rated the stock with a Buy rating and one has given a Sell rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $22.00.

About Meridian

Meridian Corporation is a bank holding company headquartered in Malvern, Pennsylvania. Through its principal subsidiary, Meridian Bank, the company provides commercial and community banking services to businesses, professionals and individuals in the Mid-Atlantic region.

Meridian Bank offers business lending, commercial real estate financing, construction loans, equipment financing, residential and consumer lending, deposit accounts, cash-management services and online banking. The company also provides mortgage banking and wealth management services, including investment and financial planning solutions.

Meridian was established in 2004 and serves customers through a network of banking offices in southeastern Pennsylvania, New Jersey and surrounding markets.